USDA LNG

[MissLindsayP]

That's bologna.  We have our homeowners insurance already lined up.  I wonder what's up with the USDA.  So, the closing date of Monday probably won't happen then?  This process is crazy.

[JM-AM]

Just keep in mind while she was trying to check for you, she emailed whomever for a response, called whomever and left a message for a response, and no one has responded back to her.

Not saying she shouldnt have at least tried emailing you and saying I have followed up and waiting on a response from them, but many times this is thrown on the processor who is dealing with many files, and gets difficult for them to respond to every one.

In my office each processor (3 of them) works on approximately 75-100 files a month, and we are a very small Mortgage Banking Firm. If our processors were responding to emails and calls from our customers, they would not accomplish much. All communication in our office would be done by whomever originates your loan on a daily basis even if no new news to report.

[Lemontwist4]

Hi everyone,

So here is my short but sweet story so far it is still in process

My husband and I got sick of paying higer than a morgage payment rent and finally had enough when our rent was raised again (they owners refuse to fix anything so we pay out of pocket for all repairs but yet they raise the rent each year). This time we decided to just see if we could buy a home and in one day I got 4 pre-approvals!! So that was super exciting! So I got online and started looking at houses ect.... than I started researching what do underwriters look for. I found we had two old medical bills (our oldest daughter after she moved out used out medical insurance and had the bills in my husbands name sent to her house so we had no ideal they were on there) so we paid them off then started researching if we should go FHA or USDA. So we decided to go FHA found a home we had three showings of this home their selling agent was "friends" with our agent so we were going in on Monday to submit a offer the sellers agent said that was fine. Well come Monday morning we get a call from our agent saying she recieved a late night email Sunday night saying the sellers acepted a offer and she didn't even bother to tell the sellers there was another offer coming in. So needless to say the house hunt was back on. I finally found one that was eligable for USDA. This is where we are today. We made our offer it was finally accepted, we got our inspection, the few items found wrong are currently being fixed by the owners, our apraisal was done we are waiting for the report, the loan went through the banks underwriting with just two contidions ( employment verification and a signed form for USDA) the form was signed right away we are waiting on reciept of the verification and apraisal (nothing I can do but wait) The home insurance agent has already sent all the info to the LO. So when the other two items come in our LO will get final approval from the bank underwriters and it goes to USDA. The LO keeps telling us we have nothing to worry about she sees no issues at all and has no concerns. Our close date is September 12 but I would be suprised if that happened. Has anyone on here made it through the bank underwriters then get denied by USDA? 

[cocomadd]

I hope it all works out for you.  Can you please share your scores....are they over 660, if so you should be fine.

[Lemontwist4]

The score the bank used is 694 don't know which was which but one was 704 and one was 678 we have gone through final approval with the bank and our file was sent to USDA today.